＜Research＞CMBI Is Bullish on Pharma New Consumers as Pharma Sector Valuation Attractive

　　The MSCI China Health Care Index tumbled 26.5% YTD, underperforming the MSCI China Index by 33.7%, CMBI released a research report saying. The dynamic PE ratio of the industry index was 24x, which is lower than the 12-year historical average.

　　CMBI continued to be optimistic about the new pharma consumers. GIANT BIOGENE (02367.HK) +2.800 (+6.452%) Short selling $94.14M; Ratio 22.133% continued to deliver brilliant sales. During the 2024 618 period , the online GMV of Kefumei grew by more than 60% YoY, while the online GMV of Collgene rose by over 100% YoY.

　　In addition, INNOVENT BIO (01801.HK) +0.500 (+1.340%) Short selling $18.69M; Ratio 12.045% announced the Phase III clinical results of mazdutide for the treatment of obesity, which realized 14.84% weight loss in 48 weeks of treatment, etc..

　　CMBI continued to be optimistic on leaders for innovative drugs and instrument and high-healthcare consumers with high growth.

　　CMBI also remained bullish on MINDRAY BIO-MEDICAL(300760.SZ) -3.410 (-1.155%) , UNITED IMAGING HEALTHCARE(688271.SH) -0.760 (-0.664%) , BEIGENE (06160.HK) -0.350 (-0.371%) Short selling $10.37M; Ratio 14.344% , GUSHENGTANG (02273.HK) -0.650 (-1.684%) Short selling $3.14M; Ratio 13.602% , SKB BIO-B (06990.HK) -5.100 (-2.982%) Short selling $2.83M; Ratio 15.433% , GIANT BIOGENE and INNOVENT BIO.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-24 16:25.) (A Shares quote is delayed for at least 15 mins.)

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